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Abu Dhabi-based Cristal Group Expands In Erbil And Saudi Arabia

The group is opening three new hotels in the Iraqi city of Erbil and a new hotel in Saudi Arabia, its chief executive said.

Trade Finance, The Islamic Way

Islamic lenders need to improve their efficiency and increase penetration in predominantly Muslim markets to be big players in global trade finance.

Saudi Suspends Aid To Yemen After Houthi Takeover

Houthi fighters, friendly with Iran, took over the capital Sanaa in September.

Stock News: Gulf Markets Upbeat As Oil Prices Rise

Brent crude was up 0.3 per cent at $70.10 a barrel at 0840 GMT.

Lufthansa Pilots’ Strike Impacts Gulf Flights

Half of all long-haul flights are affected as group unveils details of low-cost long-haul division

Egypt’s Public Prosecutor Appeals Mubarak Verdict

A court decided to drop charges against former president Hosni Mubarak over the killing of protesters in a 2011 uprising.

Gulf Markets Stabilise After Panic Sell-Off

Brent crude fell nearly $2 a barrel to a five-year low below $68 in early trade on Monday but then pared some losses and climbed towards $70.

Middle East Retailer Azadea Eyes $500m From Stake Sale

Azadea expects to fetch between $400 million and $500 million with its offer of a 25 per cent stake, sources said.

Middle East Wealth Funds To Actively Invest In 2015

Sovereign wealth funds in the region are investing more in emerging markets such as Africa and China as they shift away from Western markets.

Arabs To Present Draft On Palestinian State To UN Security Council Within Days

A proposed resolution on a Palestinian state is unlikely to gain the support of veto-wielding council member the US, a key ally of Israel.

Egypt Repays $2.5bn Deposit To Qatar

The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding.

OPEC’s Other Problem: Weak Demand

Oil demand in Asia is not growing quickly enough to offset stagnating consumption, writes Reuters columnist John Kemp.

Oil Prices Fall To 4-Year Lows As OPEC Production Cut Looks Unlikely

Oil prices have fallen by more than a third since June mainly due to increasing production in North America from shale oil.

HSBC To Refund UAE, Oman, Bahrain Customers For Excessive Fees

The lender said it charged them excessive foreign currency fees on debit and credit card transactions.

Dubai’s Al-Futtaim To Invest $700m In Egypt After Dispute Settled

Mohamed al-Makkawi, Al-Futtaim’s Egypt CEO, said the investments would be directed towards new projects in Cairo Festival City development.

Michelin Mulls Middle East Manufacturing Facility In The Future

The Middle East market, specifically Saudi Arabia, holds strong potential for growth for the French tyre company, says COO.

Dubai’s Noor Bank Eyes Turkish Growth To Beat Competition

The bank has arranged syndications for Turkish borrowers worth more than $4.5 billion since 2010, including more than $2.1 billion in the past 18 months.

GCC Petrochemical Revenues Reach $89.4bn In 2013

Petrochemical revenues from the region grew by $6 billion between 2012 and 2013, increasing 7.3 per cent, a new report shows.

Iran To Push For Saudi Oil Output Cut At OPEC

Iran’s oil minister will meet his Saudi counterpart in Vienna to persuade the oil giant for cuts in oil production and supply, state news agency said.

UAE’s Abraaj Says Raises Offer Price For Egypt’s Bisco Misr

Abraaj is now offering 79.10 pounds ($11.06) a share for a total purchase price of 909.65 million pounds, it said in Sunday’s statement.

Iran Says Final Nuclear Deal With Major Powers “Impossible” By Nov. 24

The negotiations between Tehran and six world powers – the US,UK, France, Germany, Russia and China have dragged on for more than a year.

US Briefs Gulf Allies On Iran Nuclear Talks, Still Sees “Big Gaps”

Western officials say Iran has refused to budge on key issues such as uranium enrichment.

Egypt’s Sisi Says Pardon For Al Jazeera Journalists “Being Discussed”

The three journalists have been jailed for nearly a year on charges of aiding a “terrorist organisation”.

GCC Firms Embark On A Cautious Investment Spree In Africa

Africa’s fast growing economies have transformed the continent into a booming frontier market, but risk is still a primary concern for GCC investors.

Saudi Arabia Leans On Gulf States To Close Ranks As Region Boils

Regional concerns such as Iran’s impending nuclear deal and growing security threats from the region have helped mitigate the widening rift between GCC members, analysts say.

Egypt Says It Resolves Land Dispute With Dubai’s Al-Futtaim

A government source had previously said the negotiators were considering a payment of around 235 million Egyptian pounds ($33 million).

Muslim, Christian, Jewish Leaders Unite To Condemn IS At Saudi-Backed Conference

Islamic State has caused international alarm by capturing large expanses of Iraq and Syria, declaring a Sunni “caliphate” .

Saudi King Calls On Egypt To Back Gulf Accord

Relations between Cairo and Doha have deteriorated since President Abdel Fattah el-Sisi took charge.

Almost 60% Of Finance Professionals In ME Expect A Bonus In 2014

The majority of regional financial professionals also expect bonuses to increase when compared to last year, finds survey.

India Urges Higher Pay For Millions Of Gulf Workers

The recommended minimum monthly salary has risen to SAR1,200 in Saudi, and to Dhs1,500 in the UAE.